[Crains quoting Bloomberg[
Disney CEO steps down
Disney CEO Bob Iger is stepping down immediately, the company said in a
surprise announcement Tuesday.
The Walt Disney Co. named Bob Chapek as his replacement. Chapek was
most recently chairman of Disney Parks, Experiences and Products.
Iger will remain executive chairman through the end of his contract
Dec. 31, 2021.
Iger said it was an "optimal time" for him to step down following
Disney's acquisition of Fox's entertainment assets and the launch of
Disney Plus streaming service in November.
"Did not see this coming -- Wowza," tweeted LightShed media analyst
Rich Greenfield.
Chapek is only the seventh CEO in Disney history.
Iger became CEO of Disney in 2005, succeeding longtime chief Michael
Eisner. He steered Disney through successful acquisitions of
Lucasfilms, Marvel, Pixar and other brands that became big moneymakers
for Disney.
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